Thinking about it, Qin Song, in order to stabilize the company's stock price, and also to boost investor confidence and maintain the company's market value.
He instructed the group's securities department and the company's board secretary to appropriately disclose some project development plans and corresponding future development strategies to the market, and also explicitly stated that the company's current operations were all normal, with no negative information that should have been disclosed but wasn't.
Following the announcement and explanation from Jingcheng Holdings' Group.
The string tightly pulled in the hearts of the numerous investors who held Jingcheng Holdings' stock during the trading session and suffered heavy losses finally loosened.
"It seems there was a malicious short-selling by an opposing party. Next week... after the New Year's Day holiday, the market should see some recovery."
Seeing the announcement released by Jingcheng Holdings, in Hong Kong City, within Hongyuan Capital company, investment manager Zhang Yanjun said.
Trader Shi Jindong, staring at the company's heavily invested hundreds of millions of chips in Jingcheng Holdings' stock, responded,
"I hope it can recover after the holiday, otherwise... if it falls further, we'll have to passively stop losses."
"Analyzing the company's fundamentals, this enterprise is still very much worth investing in,"
Zhang Yanbing said.
"Moreover, to successfully list on the A-share market, Chairman Qin of Jingcheng Holdings is very concerned about the stock price and actively maintains the company's market value. At the same time, he will also achieve results in business expansion.
Therefore... as long as the company's internal operations are normal, we can completely ignore or pay less attention to some negative rumors in the market, hold onto our chips, and simply wait for good things to happen."
Shi Jindong pondered for a moment and said,
"But I always feel that today's drop in Jingcheng Holdings' stock price is a bit abnormal. These short-selling funds... although we don't yet know which institution is behind it, the operational methods and trading strategies are too extreme."
"Is there any short-selling that isn't extreme?"
Zhang Yanbing chuckled and said.
"Aside from the announcement released by Jingcheng Holdings itself, there's really no other news in the market right now!"
Shi Jindong carefully browsed through the latest financial news in the market and discussion information about Jingcheng Holdings' stock and the company.
He found that everyone was bewildered by the stock's intraday plunge, and thus couldn't help but think,
"Am I really overreacting?"
He felt by intuition that the intraday trend of Jingcheng Holdings' stock today had serious problems.
But he thought long and hard, investigating carefully.
Yet he had no idea where the problem lay.
And just as the two were discussing the intraday trend of Jingcheng Holdings' stock, and were utterly perplexed by its inexplicable plunge.
Su Yi watched the short selling positions of over 21 million in his Hong Kong stock trading account.
He frowned slightly.
According to his original plan, he was going to short-sell 50 million chips directly.
Unfortunately, the liquidity of the Hong Kong stock market is very limited.
Even though Jingcheng Holdings' stock had a market capitalization exceeding ten billion, qualifying it as a mid-cap stock, its average daily turnover didn't even reach 100 million.
He wanted to short-sell so many chips, but there were no counterparties available at once.
"Brother Su... you've already made a move?"
Hearing that Jingcheng Holdings' stock had plunged by over 10% intraday, showing severe unusual movement, Lei Kaishan immediately thought of Su Yi and called, asking anxiously.
Su Yi smiled and replied,
"Just short-sold a small amount of chips."
"Your 'small' short-selling move is a bit too big,"
Lei Kaishan said with a laugh,
"But then again, such a big move... I like it."
"The ultimate goal of short-selling is to buy at a low price,"
Su Yi said.
"By leveraging potential negative news and stock price trends, we stimulate sentiment and attract more attention. Then, after you release the negative news, and after emotional fermentation, there will be more concentrated selling pressure. Only when concentrated selling pressure emerges can I possibly buy enough chips.
Otherwise, given the liquidity of Jingcheng Holdings' stock in the Hong Kong market, buying hundreds of millions worth of chips would likely not be easy."
"Understood,"
Lei Kaishan said,
"I don't understand things related to secondary market trading. In this aspect, it's all up to Brother Su."
After speaking, Lei Kaishan chatted for a couple more sentences and then hung up the phone.
Subsequently, Su Yi shut down his computer, preparing to leave the office for home.
At this moment, his assistant Lin Xiaoxiao suddenly reported,
"Mr. Su, Mr. Qin of Jingcheng Holdings just called, wanting to invite you for a meal. What do you think..."
"Mr. Qin of Jingcheng Holdings'?"
Su Yi paused, then asked,
"Which Mr. Qin?"
"It seems to be Mr. Qin Renzhao of Jingcheng Real Estate,"
Lin Xiaoxiao replied.
Su Yi had thought it was Qin Song, but it turned out to be Qin Renzhao, the eldest son of the Qin family who managed the real estate business.
He pondered for a moment and said,
"Just say I have plans tonight."
"Okay."
Lin Xiaoxiao nodded and then exited the office.
She didn't ask for any reasons, as it wasn't something she needed to know.
Furthermore... in her view, given Su Yi's current wealth and social status, meeting or not meeting was perfectly acceptable.
After all, in terms of interests.
Jingcheng Holdings' Group and their company didn't have deep intertwined interests.
After Lin Xiaoxiao left the office, Su Yi also carefully considered the reason for the sudden meeting request, but he hadn't figured out the other party's motive.
Of course, regardless of the other party's motive.
As of now, it wouldn't affect him.
Having figured this out, he didn't delve deeper into the matter, left the office, and drove straight home.
After returning home and having dinner, Su Yi thought about the New Year's Day holiday and that he had nothing urgent to do at work.
So, he asked Lin Xiaoxiao to help him create a travel guide for nearby cities, preparing to take his mother and Chu Wan to explore around and experience the holiday atmosphere.
After that, in the following few days.
He, along with his mother and Chu Wan, temporarily left Modu and toured around.
Then, when he returned to Modu again.
He saw that Lei Kaishan had already exposed various negative information about Qin Song of Jingcheng Holdings' Group.
Furthermore, the other party, anonymously, had people report Qin Song for molestation and even more serious harm to underage girls, which directly led to a police investigation and ignited public opinion across Modu's business community during the holiday.
Su Yi browsed various related discussion topics online, watching countless netizens filled with righteous indignation.
He knew that Qin Song was probably finished.
Even if the other party had deep roots and could find a way to avoid imprisonment.
But his personal credibility and the image of a great philanthropist painstakingly built over the years should have completely collapsed.
And the resulting internal crisis for the enterprise would also follow.
It could be foreseen that due to his personal issues, the company's board of directors would certainly be reorganized, and the group's internal power structure would also be reshuffled.
"I really didn't expect Chairman Qin to be such a person."
Amidst the widespread discussions, within the Modu branch of Huaxin Securities, the sponsor brokerage firm for Jingcheng Holdings' A-share listing, Sun Hongzhi, the project leader for Jingcheng Holdings, said exasperatedly,
"With this incident involving him, the entire project's listing plan is most likely doomed."
"Are there any remedial measures?"
asked Zhou Tongjiang, the manager of the listing sponsorship business.
Sun Hongzhi couldn't help but scratch his head, feeling a headache, and said,
"I'll try to think of a solution. If not, we can only abandon this project and seek a timely retreat. This Chairman Qin is truly... I told him before, during the listing review period, absolutely no problems should arise. Damn it... because of his special predilection, the losses incurred this time will be at least in the hundreds of millions."
In the entire sponsorship business.
Their institution also took on a large number of shares from the additional issuance.
Now, with Qin Song's incident, if the company cannot successfully list on the A-share market, all these additional shares they hold will be stuck in their hands, making it difficult to find buyers even at a discount.
Similarly, just like them.
Several other investment institutions that participated in Jingcheng Holdings' additional share issuance and listing plan.
At this moment, everyone was cursing under their breath.
Even Gong Dejian, the notoriously bad-tempered helmsman of Shenyang Capital, after hearing this news and seeing the tens of millions of Jingcheng Holdings' additional shares in his hand, had already cursed Qin Song's entire ancestry.
The so-called friendships in the business world.
When nothing went wrong and everyone profited, naturally there were smiles all around, 'Hello, I'm good, everyone's good'.
But once a major incident occurred that truly harmed actual interests, especially causing significant losses to the other party, it became 'cutting off someone's financial path is like killing their parents'.
In addition to the furious major investment institutions.
There were also numerous small and medium investors who invested in Jingcheng Holdings' secondary market shares.
At this moment, even Qin Song's two sons, Qin Renzhao and Qin Feng, looking at their father deeply entangled in the vortex of public opinion, and the various pieces of evidence provided by the whistleblowers and the police, felt their worldview shattered and found it hard to believe.
They found it hard to imagine that their father, who was usually kind and amiable to outsiders, had such a dark side.
Moreover, it was even harder to imagine.
Their always shrewd and infallible father had fallen in such a way.
"Big Brother, this is a frame-up, isn't it?"
Qin Feng stared intently at the silent Qin Renzhao and asked.
Facing Qin Feng's question, Qin Renzhao didn't speak for a long time.
After a period of silence, he finally replied,
"Whether it's a frame-up or not, someone did this deliberately, it was planned long ago. And to know so many details about Father, the person who stabbed him in the back could only be a very close friend of Father's."
"Big Brother, who do you think is planning all this?"
Qin Feng asked.
Qin Renzhao said,
"This person is easy to guess, it's Lei Kaishan. Father had previously wanted me to manage the company's real estate sector business, to dilute Lei Kaishan's influence built up over many years within the group, so that he wouldn't become too powerful to control. Unexpectedly... this person still resorted to desperate measures."
"Lei Kaishan..."
Qin Feng exclaimed in shock,
"I didn't expect it to be him. Does Big Brother have a way to deal with him?"
Qin Renzhao gritted his teeth and said,
"I'll find a way. This person used such a vicious scheme against Father, even going so far as to destroy the group's listing plan. This is probably just the first step. Afterwards... there should be more storms coming, Xiao Feng... please take on more of the family matters recently. I will immediately arrange to meet with several shareholders of the group to discuss this matter. No matter what, at this moment, we must stabilize everyone."
After speaking, Qin Renzhao left the house.
Unfortunately, his action was a step too late.
At this time, the shareholders of Jingcheng Holdings' Group.
Anyone who could be swayed had already been invited over by Lei Kaishan.
And with the internal power struggle within Jingcheng Holdings' Group escalating, and both sides eager to destroy the other.
Su Yi, however, remained quite leisurely, acting as a 'melon-eater' online, watching this grand drama along with countless netizens.
But unlike everyone else's true spectating.
Although he was not a central figure in this drama, he was a crucial link within it.
And within this link, he could still reap considerable profits and benefits.
With the disputes within Jingcheng Holdings' Group, and the scandal of the ten-billion-dollar group head that ignited holiday business headlines and shattered everyone's worldview continued to ferment.
When January 4th truly arrived, marking the end of the New Year's Day holiday and the market reopening.
The stock price of Jingcheng Holdings, deeply embroiled in public opinion and a negative news vortex, plunged by over 20% right after opening, hitting a new annual low, with investors from all sides rushing to sell, and selling orders appearing endlessly.
After continuous fermentation of panic sentiment.
Across the entire market, Su Yi no longer needed to deliberately short-sell to suppress the price; the stock price had already collapsed.
Su Yi saw that Jingcheng Holdings' stock price was fully reflecting the negative news, and the selling volume was also being pushed out under extreme negative pressure.
He knew the time to enter the market had arrived.
Thus, he began aggressively sweeping up shares, furiously buying into Jingcheng Holdings' stock.
Firstly, to cover the naked short positions before the holiday, and secondly, to increase his holdings of Jingcheng Holdings' secondary market shares at a low price, fulfilling his previous promise to Lei Kaishan.
And as he aggressively bought Jingcheng Holdings' stock and covered his naked short positions.
The A-share market, which is somewhat connected to the Hong Kong stock market.
Even without clear negative news, after opening, it also showed a sharp plunge.
The Shanghai Composite Index, Shenzhen Component Index, and ChiNext Index all fell sharply.
Within just ten minutes of opening, they broke through all pre-holiday support levels, all showing a plummeting trend.
And as the indices plummeted one after another.
The core themes in both markets, such as 'major infrastructure', 'major finance', 'new energy industry chain', 'real estate industry chain', 'major consumption'... and other related sectors, along with their corresponding core weighted stocks and popular stocks, also exhibited a rapid, high-volume plunge.
"Holy crap, it's insane, absolutely crazy, isn't it?"
Noticing the market-wide plunge, in Modu, within Nuoan Capital company, in the trading department of the Blue-Chip Mixed Selection fund product, which is a core fund product of the company, trading team leader Li Shangfeng's expression became tense, and he couldn't help but complain,
"Damn it... shouldn't the negative news from Jingcheng Holdings' only affect the Hong Kong stock 'real estate' sector? How can it spread to the A-share market too?"
(End of Chapter)